Independent Standard-Setting Boards

The International Auditing and Assurance Standards Board sets high-quality international standards for auditing, assurance, and quality control that strengthen public confidence in the global profession.

The International Accounting Education Standards Board establishes standards, in the area of professional accounting education, that prescribe technical competence and professional skills, values, ethics, and attitudes.

The International Public Sector Accounting Standards Board develops standards, guidance, and resources for use by public sector entities around the world for preparation of general purpose financial statements.

IndependentStandard-Setting Boards

Home  About IFAC  Forum of Firms and Transnational Auditors Committee

Forum of Firms and Transnational Auditors Committee

Practitioners supporting practitioners at the global level

The Forum of Firms (FOF, Forum) is an independent association of international networks of firms that perform transnational audits. The objective of the Forum is to promote consistent and high-quality standards of financial reporting and auditing practices worldwide—bringing together firms that perform transnational audits and involving them more closely with IFAC’s activities in audit and other assurance-related areas. Members of the FoF must demonstrate their commitment to adhere to and promote the consistent application of high-quality audit practices worldwide, as detailed in the FOF Constitution.

Transnational Auditors Committee

The IFAC Transnational Auditors Committee (TAC) serves as the official link between IFAC and the FoF. It is broadly responsible for implementing and advancing the FoF’s objectives and operations, and plays a major role in encouraging members of the FoF to conduct high-quality international audits by requiring the commitment to comply with certain international standards as a condition of membership.

The TAC also supports audit quality by:

Identifying audit practice issues and making recommendations to the appropriate standard-setting boards to review these issues as needed;

Providing a forum to discuss best practices in areas including quality control, auditing, independence, and training and continuing professional development;

Facilitating interaction among transnational firms, international regulators, and financial institutions with regard to audit quality, systems of quality control, and transparency of international networks; and

Identifying qualified candidates to serve on the international standard-setting boards.

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